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Lee & Associates - Arizona | Week in Review | Friday, January 10, 2014

01/10/2014


 

LOCAL NEWS

 

Lee News: 125KSF Dunn-Edwards Buildings Sold to Canadian Tech Co. for $3.6M

Two industrial buildings at 1868-1872 E. Broadway Rd. in Tempe, totalling 125,292 SF, have been sold for $3.6 million. AZRE MAGAZINE

 

Report: AZ job growth ranked 2nd for 2014

A new report by Moody's Analytics predicts that Arizona will be one of the national leaders in job growth this year and is expected to climb more than three percent, creating more than 77,000 new jobs in  Arizona. CBS5AZ.COM

 

Standard Pacific Homes Purchases 64.05 Acres in Chandler for $29M

Standard Pacific Homes has purchased a 64.05 acre infill piece of residential land in Chandler for $29m or $452,767.74 per acre. There is an active re-entitlement case with the Chandler Planning Commission to establish a 319-lot community titled “Echelon at Ocotillo”. VIZZDA NEWS

 

W.P. Carey buys Tempe building in ASU Research Park for $23M

New York-based W.P. Carey Inc. (NYSE: WPC) has purchased a large office building in Tempe that houses Avnet Inc. for $23 million, according to a company statement this week.

PHOENIX BUSINESS JOURNAL

 

Vestar enters Denver market with $123M shopping center purchase

Phoenix-based Vestar Development Co. — one of the largest privately-held shopping center firms in the West — has entered the Colorado market via a $123.5 million joint-venture purchase of a large-scale retail center. PHOENIX BUSINESS JOURNAL

 

 

NATIONAL/INTERNATIONAL NEWS

 

Lee News: Lee & Associates Negotiates $3.9 Million Sale of West Covina Freeway Center

Lee & Associates, the largest broker-owned commercial real estate firm in the country, has negotiated the $3.9 million sale of the 19,320-square-foot West Covina Freeway Center in West Covina, Calif. REAL ESTATE RAMA

 

Commercial Real Estate Set To Show Strong 2013 Sales

Commercial property sales accelerated in 2013, continuing a years-long recovery after activity came to a near-halt during the financial crisis and recession. INVESTORS BUSINES DAILY

 

Fed Chairman Says Economy Poised for Faster Growth

In his final speech as Federal Reserve Chairman Ben S. Bernanke said that the forces that contributed to the recession are abating, which should produce faster growth in the US economy in 2014. GLOBE ST.

 

US office market sees an uptick in activity

The office market in the United States absorbed 13 million square feet of space during the fourth quarter 2013, the highest level recorded since 2007, according to a new report. PROPERTYWIRE

 

New Era of Office Towers Will Continue to Rise in 2014

New data on construction starts and spending provided compelling evidence of a recovery in urban office development, prompting some planners to describe 2013 as "the year of the return of the downtown high-rise." COSTAR GROUP

 

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01/10/2014 - 10:00

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